The objective of the NIS short duration high yield strategy is to provide consistently higher current income than investment grade short duration products.
We seek total rate of return through the active management of credit risk. Other factors that will affect performance include analysis of industries, call risk and structure risk. Under normal market conditions at least 70% of the fund will be invested in corporate bonds. The majority of the corporate bonds will be rated BB and B in most market environments. Other sectors that are strategically utilized to attain diversification include municipal bonds, MBS, CMBS, ABS and government bonds. Our goal is to outperform the ICE BofAML 1-5 Year BB US High Yield Index and to rank in the upper quartile in a universe of our peers.